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Financing SMEs and Entrepreneurs 2012

An OECD Scoreboard

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Access to finance represents one of the most significant challenges for entrepreneurs and for the creation, survival and growth of small businesses. As governments address this challenge, they are running up against a major and longstanding obstacle to policy making: insufficient evidence and data. Better data is needed to understand the financing needs of SMEs and entrepreneurs and to provide the basis for  informed institutional and public policy decisions.

This first edition of "Financing SMEs and Entrepreneurs:  An OECD Scoreboard" represents a major step in addressing this obstacle by establishing a comprehensive international framework for monitoring SMEs’ and entrepreneurs’ access to finance over time.  Comprising 18 countries, including  Canada, Chile, Denmark, Finland, France, Hungary, Italy, Korea, the Netherlands, New Zealand, Portugal, Slovak Republic, Slovenia, Sweden, Switzerland, Thailand, the United Kingdom and the United States, the Scoreboard presents data for a number of debt, equity and financing framework condition indicators. Taken together, they provide governments and other stakeholders with a tool to understand SMEs’ financing needs, to support the design and evaluation of policy measures and to monitor the implications of financial reforms on SMEs’ access to finance.

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Denmark

In 2007, SMEs comprised almost all enterprises in Denmark (99.7%). Monetary financial institutions’ (MFI) lending to SMEs, approximated by loans which amount to less than EUR 1 million, declined by around 30% between 2007 and 2009. SME lending recovered in 2010, registering a 23% increase. However, the total volume of lending was still well below pre-crisis levels. Total business loans declined in both 2009 and 2010. The share of SME loans in total business loans was small (12%) in Denmark, and it declined even further during the recession. As could be expected, the share of SME short-term loans in total SME loans increased over the crisis as SMEs sought financing to remedy liquidity problems. Short-term interest rates declined relative to longer-term interest rates.

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